Gold Started The Week With A Horizontal Trend

Gold started the new week with a horizontal trend after rising with the US employment data coming below expectations.

Gold prices started the week with a flat course after rising with the US employment data announced below expectations. With a horizontal motion in gram gold USD/TL exchange rate, gold followed the movement in global gold prices. While the US non-farm employment data was recorded as 266 thousand in April, the market was expecting employment to increase by 1 million. The unemployment rate increased for the first time after April 2020, reaching 6.1 percent from 6 percent. US Treasury bond interest rate increased to 1.48 percent on Monday after declining to 1.48 percent after the data announced. The Bloomberg Dollar Spot Index started the new week with an increase of 0.1 percent.

Ounce Gold

Ounce gold had been in a narrow price range during the week after starting the week at $ 1,770. Ounce of gold, which saw over $ 1,800 on Thursday, rose to $ 1,840 after shared employment data on Friday. After completing the last week with the most successful performance of 6 months, ounce gold started the new week with a horizontal movement of around $ 1.834.

Gram Gold

Gram gold, which started the previous week at 470 TL, remained flat with the rise in the USD/TL exchange rate balancing the fluctuating course in global gold prices. Following the rise in global gold prices on Friday, gram gold climbed to the highest level of 2021 with 488 TL. Gram gold started the new week with a horizontal course of 486 TL after completing the last week with an increase of nearly 15 TL.